client_transactions

SSG Client Transactions

Title

The Gorham Paper Mill
Client Profile

Client Profile

The Gorham Paper Mill (the "Mill") was originally built in 1904 as part of Berlin Paper Mills. Over the next century, the Mill went through several ownership changes, with Fraser Paper acquiring the Mill through a bankruptcy sale in May 2002. Today, the Mill is a specialty, low-cost, non-integrated paper mill historically known for its extensive breadth of capability, producing a wide range of uncoated free-sheet grades for printing and specialty applications as well as towel and tissue products. The Mill encompasses a total of approximately 400,000 square feet of manufacturing and warehousing space. The Mill houses three operating printing presses capable of annually producing over 135,000 tons of paper products, with additional machinery capable of producing approximately 200,000 tons of paper products per year at full capacity.
Situation

Situation

In December 2010, Counsel RB Capital, LLC acquired the Mill from Fraser Paper via a Canadian bankruptcy sale process. Prior to the sale to Counsel RB, the Mill was "wound down" and sold as an idled asset. As part of the Mill's sale, Counsel RB had to make commercially reasonable efforts to find a permanent operating partner with the intention of restarting the Mill's production and restoring a historic paper-making tradition.
Solution

Solution

Counsel RB retained SSG as its exclusive investment banker in December 2010 to market the Mill to a permanent operating partner. SSG marketed the Mill to a wide range of strategic and financial parties, ultimately effectuating the sale of the Mill and substantially all of its assets to an affiliate of Patriarch Partners, LLC. The sale of the Mill was facilitated by the flexibility of the union workforce to restructure its contract and through extensive political and financial support from the State of New Hampshire. With the acquisition of the Mill, it is Patriarch's intention to resume production on a full-scale basis that should result in the rehiring of the Mill's employee workforce and reinvigorate the towns of Berlin and Gorham, NH.
May 2011
has sold substantially all of the assets of
Gorham Paper Mill
to an affiliate of
The undersigned acted as Investment Banker to Counsel RB Capital, LLC on this transaction.

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

Contact by E-mail »

New York
(212) 786-7432

Contact by E-mail »